Carbon Black Inc (NASDAQ:CBLK) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 3,074,800 shares, a decrease of 23.5% from the June 30th total of 4,019,700 shares. Currently, 7.6% of the shares of the stock are short sold. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is presently 2.8 days.
In other Carbon Black news, insider Michael Viscuso sold 25,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $15.65, for a total value of $391,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Morley sold 277,830 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $19.00, for a total value of $5,278,770.00. The disclosure for this sale can be found here. Insiders sold 503,160 shares of company stock valued at $9,458,790 in the last quarter. 21.60% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. LPL Financial LLC boosted its stake in Carbon Black by 2.7% in the 2nd quarter. LPL Financial LLC now owns 27,200 shares of the company’s stock worth $455,000 after buying an additional 725 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Carbon Black by 8.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,874 shares of the company’s stock worth $181,000 after buying an additional 850 shares during the last quarter. Strs Ohio boosted its stake in Carbon Black by 26.3% in the 2nd quarter. Strs Ohio now owns 4,800 shares of the company’s stock worth $80,000 after buying an additional 1,000 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Carbon Black by 240.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,941 shares of the company’s stock worth $55,000 after buying an additional 2,785 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Carbon Black in the 2nd quarter worth about $84,000. 64.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CBLK traded up $0.14 during trading hours on Monday, reaching $21.92. 1,220,318 shares of the company traded hands, compared to its average volume of 1,153,123. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $1.60 billion, a PE ratio of -15.66 and a beta of 1.28. Carbon Black has a fifty-two week low of $11.80 and a fifty-two week high of $26.11. The company’s fifty day moving average price is $18.24.
Carbon Black (NASDAQ:CBLK) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $60.86 million for the quarter, compared to analyst estimates of $59.50 million. Carbon Black had a negative return on equity of 37.82% and a negative net margin of 30.69%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) earnings per share. On average, equities analysts forecast that Carbon Black will post -0.86 EPS for the current fiscal year.
Several research analysts have issued reports on CBLK shares. Zacks Investment Research upgraded Carbon Black from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, August 7th. Cowen initiated coverage on Carbon Black in a report on Thursday, May 23rd. They issued a “market perform” rating and a $18.00 target price on the stock. ValuEngine raised Carbon Black from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, KeyCorp upped their target price on Carbon Black from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $18.54.
About Carbon Black
Carbon Black, Inc provides security solutions in the United States and internationally. Its solutions enable customers to predict, prevent, detect, respond to, and remediate cyber-attacks before they cause a damaging incident or data breach. The company offers CB Predictive Security Cloud, a big data and analytics platform, which provides endpoint data collection, streaming analytics, collective intelligence, and open application program interfaces, as well as a set of security services.
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